Jennison Associates LLC Has $884,000 Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Jennison Associates LLC boosted its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 72.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,304 shares of the biotechnology company's stock after buying an additional 29,564 shares during the quarter. Jennison Associates LLC owned approximately 0.08% of Rocket Pharmaceuticals worth $884,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Rocket Pharmaceuticals by 796.2% in the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock valued at $690,000 after acquiring an additional 48,793 shares during the period. Mirador Capital Partners LP raised its stake in Rocket Pharmaceuticals by 403.9% during the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock valued at $1,063,000 after purchasing an additional 67,755 shares during the last quarter. First Turn Management LLC boosted its holdings in Rocket Pharmaceuticals by 10.8% in the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company's stock valued at $11,476,000 after purchasing an additional 60,317 shares during the period. Walleye Capital LLC acquired a new stake in Rocket Pharmaceuticals in the 3rd quarter worth $2,556,000. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Rocket Pharmaceuticals by 3.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company's stock worth $83,001,000 after purchasing an additional 165,911 shares during the period. Institutional investors own 98.39% of the company's stock.

Insider Transactions at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 14,386 shares of company stock valued at $185,345 in the last three months. 28.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Chardan Capital reiterated a "buy" rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Canaccord Genuity Group reiterated a "buy" rating and issued a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Wedbush assumed coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an "outperform" rating and a $32.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.27.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT traded down $0.23 during midday trading on Monday, reaching $10.11. 1,403,807 shares of the company traded hands, compared to its average volume of 1,512,345. The stock's 50-day simple moving average is $11.62 and its 200-day simple moving average is $15.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a 12 month low of $9.90 and a 12 month high of $31.47. The firm has a market cap of $921.60 million, a PE ratio of -3.68 and a beta of 0.98.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.07. As a group, equities analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Rocket Pharmaceuticals Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.